Know Your Customer (KYC)

Onboard a new customer in compliance with Know Your Customer (KYC) regulations.

Process goal

Onboard a new customer in compliance with Know Your Customer (KYC) regulations.

Context

Know Your Customer (KYC) regulations add identity checks to banks’ customer onboarding processes. The KYC process is not fully automated, so it adds to bank employees’ casework, making it one more thing to manage.

Trigger

Form – the customer’s application for a bank account.

Actions

After the initial data capture, this workflow first creates parallel tasks for the KYC checks that verify the customer’s identity. The next step is a triage decision that in either accepting or rejecting the application, or manual review.

The result of a successful application is a separate onboarding sub-process, and a success notification email.